Being let go from a job is difficult on your emotions, confidence and, especially, your wallet. The average job search lasts 18 weeks, according to data from the U.S. Bureau of Labor Statistics.
And given that the typical American worker takes home $34,020 in salary, those 18 weeks between jobs add up to a stunning $11,776 in lost paychecks, according to the same data.
There are many ways to minimize your job search costs if you’re serious about doing so. Some methods will actually require you to pay money up front but can pay off in the long run. Here are a few to consider:
- Buy a suit: You’ll want to look your best when your chance for an interview comes along. Wearing an outfit that is sloppy, too loose or too tight can send negative messages to your prospective employer.
- Hire some help: Recruiters, head-hunters and career coaches are plentiful. It is important to have experts help you make the right decisions when it comes to your next steps. Figure out how much help you need and then start the search process for credible, certified professionals.
- Get a degree: If the one thing lacking from your resume is an educational degree, it may be time to consider pursuing one. The competition for new jobs has turned global in many cases, meaning more qualified candidates than ever are applying for open positions. Having a degree can keep you.
Many employers are posting and promoting new job openings online only. That’s good news for job-seekers looking to save money on dropping off resumes or buying postage for sending them through the mail.
Check online job boards, LinkedIn, Twitter and Facebook for new job postings. These social hubs are also great for making professional connections. Reach out to your acquaintances through social media to get the scoop on any available jobs they may have heard about, and be sure to follow-up on all leads.